(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on Uber Technologies with an adjusted price target of 49 to 50 dollars, the day after the publication of the quarterly results of the transport and meal delivery service platform.
“Uber has again beaten expectations and increased its forecast, thanks to an impressive sustainability of booking growth and margin gains in deliveries”, highlights the broker.
‘The forecasts for the second quarter exceeded the consensus by 7 to 13%,’ continues Jefferies, which also points to the group’s ability to make adjustments if the macroeconomic situation worsens to achieve profitability under GAAP standards.
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